The estate planning process can be comforting when you know your family’s needs are taken care of, and your hard-earned assets are protected.
Having a well written will can help protect your family from unnecessary worry, and ensure that your hard earned assets are distributed according to your wishes. We will help you make these decisions, and create a comprehensive estate plan. This includes coordinating between different accounts including bank accounts, life insurance policies, retirement plans, and ensuring proper titling of asset.
Often one of the biggest mistakes that young couples make is to assume that they do not need a will. This is simply not true, especially in families with children. We understand the legal rules that allow you to name a guardian for minor children, create or leave the option for creating trusts, and plan for your family’s wellbeing even after you’re gone.
In addition, we can help you plan for the following things:
A will is not applicable until a person has died. This means that you could be incapacitated as a result of a terrible accident, and without and advance directive, your loved ones will be left to make complex medical decisions on your behalf without your input.
An advance directive is a carefully drafted document that lays out your medical plans so that your family can carry them out accordingly. You make the tough choices today regarding your healthcare so that your family can rest easy tomorrow.
An Advance Directive allows you to make difficult decisions including the following:
A document known as a Power of Attorney allows your designated agent to step in your shoes with regard to specific (or general) financial decisions. The authority granted in a Power of Attorney can be broad and sweeping, and therefore must be carefully draftered.
These documents are especially important in households were only one partner is listed on certain financial accounts including mortgage and bank accounts.
The Law Office of Yuripzy Morgan can create a well-tailored Power of Attorney that will aid your agent in handling your affairs whether temporarily or for longer periods depending on your wishes.
A diagnosis such as Alzheimer’s can be very difficult to cope with, but we can at least help you with the management of your estate to ensure that you and your family can focus on your health. Depending on your situation, a trust may be helpful in organizing your assets and allowing a trustee to manage them for you long term, without having to resort to a guardian or other potentially costly, court mandated approach.
Planning for the well-being of children under the age of 18 should always include what to do if one or both parents were to suddenly pass away. We can do this by naming a guardian and by that guardian or custodian with the authority to create a trust for the benefit of your children.
That trust would include certain stipulations that you deem important in the way your children’s finances are managed. This includes stipulations about education, buying a car, and at what age the children can receive the total amount left to them by you.
The tax code is ever changing, but currently individuals above a certain threshold may be leaving behind a substantial tax bill for their beneficiaries. We can help you minimize your tax burden so that more of your estate is left to your loved ones through the use of certain trusts.
The Law Office of Yuripzy Morgan can develop a plan for your specific situation, including the pros and cons of a trust for your situation. If that plan includes a trust, we will walk you through the process, including retitling assets and ensuring that the trust is fully funded.
I know there’s a lot to think about! Just send me your email address and I’ll contact you!
